TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Bitcoin ETF decision delayed, again. New Zealand legalizes paying wages with crypto. Goldman analyst is really bullish on bitcoin. Hackers will earn $4.3 billion worth of cryptocurrency this year. Argentinian peso falls 45%, taking Bitcoin to $1,000+ premium prices, and scammers continue to use Twitter.
Bitcoin ETF Decision Delayed Yet Again
The US SEC (Securities and Exchange Commission) yet again delayed the decision about authorizing the Bitcoin ETF (Exchange Traded Fund). The three proposals presented by Bitwise Asset Management, VanEck/SolidX and Wilshire Phoenix, were postponed until Fall. While the last proposal can be still postponed further, the first two will have to be resolved, and that first decision will likely indicate the SEC’s true stance on the Bitcoin ETF subject.
New Zealand Legalizes Paying Wages in Cryptocurrency
New Zealand has become the first country to legalize paying wages in cryptocurrencies, allowing these assets to be used as money. The ruling explicitly states wages and salaries can be paid in cryptocurrencies such as bitcoin starting in September, and that the selected cryptocurrency must fulfill two requirements: first, it must be pegged to a fiat currency, and second, it should be easily converted to a standard form of payment like fiat money. The document also states how these crypto salaries will be considered as money for tax purposes.
Goldman Sachs Analyst Foresees 23% Rise In Bitcoin Price
A new bullish TA appeared in a series of slides Goldman Sachs sends to its customers to alert them about possible market moves. Sheba Jafari presented bitcoin as an asset that can grow up to 23% in the short term, and even more in the future. The Elliott Wave theory was used to make these bold predictions, a TA theory that analyzes market data and divides past movements into waves.
$4.3 Billion Will go to Crypto Criminals This Year
A report released by cryptocurrency and cyberspace security firm CipherTrace estimates the total amount of revenue taken by cryptocurrency-related criminals this year will be close to $4.3 billion, a number that dwarfs the $1 billion taken last year. This is the result of several key exchange hacks this year, and also of some cryptojacking hits to cities in several parts of the world. The report states that just in the last few months, $160 million were stolen in different cryptocurrencies, a value that could be higher due to market price movement.
Argentinian Peso Down 45%, Sends Bitcoin to Premium Prices
The Argentinian peso, its fiat currency, lost almost 50% of its value against the dollar overnight, as a consequence of elections that gave the lead to a socialist party. This was enough for Argentinians to demand bitcoin to use it as a store of value to protect themselves against further devaluation, and to send the bitcoin price to a $1,400 premium over external markets, according to LocalBitcoins prices.
Scammers Continue to Appear on Twitter
Twitter seems to be the platform of choice for cryptocurrency scammers, even with the latest push to remove them. Now there is a new scam claiming to be announcements from Binance, a prominent exchange, conducting a giveaway, along with users replying to that tweet, stating this is in fact real. These messages are posted as replies to famous crypto personalities’ account tweets to get more eyeballs. Twitter declared they are doing everything they’re able to thwart these kind of scams, but it has clearly not worked.
CONTINUE THE SPICE and check out our piping hot VIDEOS. Our podcast, The CoinSpice Podcast, has amazing guests. Follow CoinSpice on Twitter. Join our Telegram feed to make sure you never miss a post. Drop some BCH at the merch shop — we’ve got some spicy shirts for men and women. Don’t forget to help spread the word about CoinSpice on social media.